Earthquakes, Recent and Future
Early today, A 5.5 magnitude earthquake struck off the coast of Sumatra island of Indonesia. Indonesia has had several earthquakes since the large earthquake that produced a tsunami on December 26, 2004. The tsunami killed more than 128,000 people in Indonesia and more than 40,000 across the Indian Ocean.
An 8.7 magnitude earthquake struck Indonesia’s Nias Island on March 28, 2004. The death toll is reported to be 905, and is expected to rise as more bodies are found. Thousands of survivors are left homeless and thousands of buildings have been destroyed.
The California Sierra-Nevada area that borders Nevada is expected to have an earthquake in the near future.
Although many earthquakes have damaged buildings and killed people in California during the last fifty years, trends show that few people are buying earthquake coverage. Less than 15 percent of Californian homeowners have earthquake insurance.
New stronger bankruptcy laws and climbing high housing costs increase the need for insurance. The bankruptcy laws will make it harder for Americans to walk away from earthquake damage and declare bankruptcy. Insurance is a good idea for homeowners, especially if their house is not a dome structure that can withstand an earthquake.
Reference:
Earthquake March 28:
Sierra-Nevada future quake:
Quake insurance:
posted by GS @ 4/26/2005 10:58:00 PM
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